Spot Market Was Sluggish During the Week, and Premiums and Discounts Continued to Decline This Week [SMM Guangdong Spot Cargo Weekly Review]

Published: Feb 13, 2026 14:47
[The spot market was sluggish this week, and premiums and discounts continued to decline] This week, premiums and discounts in Guangdong decreased by about 55 yuan/mt WoW. As of Friday, the mainstream #0 zinc was quoted at a discount of 60 yuan/mt against Guangdong, and the Shanghai-Guangdong price spread widened...

       Premiums and discounts in Guangdong this week fell by about 20 yuan/mt WoW. As of Friday, mainstream Grade 0 zinc was quoted at a discount of 65 yuan/mt in Guangdong, while the Shanghai-Guangdong price spread held steady. Zinc prices continued to fluctuate at highs during the week, and coupled with end-user holidays, weakening demand drove premiums and discounts lower. The market is currently in a Contango structure; Guangdong will switch to contract rollover pricing after the holiday, and due to this, premiums and discounts in Guangdong are expected to remain in discount territory post-holiday. Post-holiday consumption recovery will be closely watched.

                                                                                                                                                

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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